Question
Problem 5-3 Finding the required interest rate Your parents will retire in 21 years. They currently have $330,000, and they think they will need $1,250,000
Problem 5-3 Finding the required interest rate
Your parents will retire in 21 years. They currently have $330,000, and they think they will need $1,250,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds? Round your answer to two decimal places.
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The Principals Guide To School Budgeting
Authors: Richard D. Sorenson, Lloyd M. Goldsmith
3rd Edition
1506389457, 978-1506389455
